According to the new market research report "Automotive Fuel Tank Market by Capacity (70 L), Material (Aluminium, Plastic & Steel), SCR Technology, CNG Tank Type (Type 1, Type 2, Type 3 & Type 4), Propulsion Type (Hybrid, Hydrogen, ICE & NGV) and Region - Global Forecast to 2027", published by MarketsandMarkets™, The Automotive Fuel Tank Market is estimated to be USD 20.5 billion in 2020 and projected to reach USD 27.4 billion by 2027, at a CAGR of 4.2%.The market is driven by increasing vehicle production, including passenger and commercial vehicles, demand for lightweight vehicles for achieving a longer driving range, government support for alternate fuels, stringent emission norms that require minimum GHG emissions, and government initiatives pertaining to hydrogen infrastructure.Browse and in-depth TOC on “Automotive Fuel Tank Market” 145 - Tables50 - Figures181 - Pages Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=23737735High-Density Polyethylene to be the most widely used material for automotive fuel tanks marketPlastic fuel tanks are principally produced using High-Density Polyethylene (HDPE).
Plastic fuel tanks find application in almost every vehicle segment, including passenger cars, LCVs, and HCVs.
As of 2020, plastic fuel tanks are estimated to account for the largest share, in terms of both volume and value, of the global Automotive Fuel Tank Market.
Among all the three segments, the largest market is for fuel tank capacity with 45-70 liters as the vehicle production for sedans and mini SUVs is growing at a fast rate in Asian and European countries like Japan, China, India, Germany, France, and Spain.Request FREE Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=23737735 Asia Oceania is projected to be the fastest-growing Automotive Fuel Tank MarketThe Asia Oceania region is the largest automobile producer, given the increasing demand for passenger vehicles in countries such as China, India, Japan, and South Korea.
With this growth in vehicle production, the demand for automotive fuel tanks has increased in Asia Oceania.The key players in the Automotive Fuel Tank Market include The Plastic Omnium (France), Textron-Kautex (Germany), Yapp (China), TI Fluid (UK), Yachiyo (Japan), Unipres (Japan), Fuel Total Systems (Japan), Magna International (Canada), and SMA Serbatoi S.P.A. (Italy), and among others.
These companies have followed supply contracts/agreements/partnerships/collaborations/joint ventures as key strategies to gain traction in the Automotive Fuel Tank Market.Browse Related Reports:Automotive Fuel Injection Pump Market by Type (Common Rail and Rotary Distributor), Application (Direct Injection and Multi-Point Fuel Injection), Pressure (Low Pressure and High Pressure), Vehicle (PC, LCV, and HCV), and Region - Global Forecast to 2025Diesel Exhaust Fluid Market by Component (SCR Catalyst, DEF Tank, Injector, Supply Module, Sensor), OHV Market by Application (Construction & Agriculture), Aftermarket by Vehicle Type, Supply Mode (Cans, IBC, Bulk & Pump), & by Region - Forecast to 2022About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.